Relevant Experience Personal Insolvency

  • We advised a businessman who faced a number of claims after his business closed. Creditors agreed to wait whilst he re-mortgaged his house and paid them all.
  • We advised in relation to claims made by the Trustee of a Deceased Insolvent estate against various family members. The claims were extremely personal and far exceeded the amount needed to pay creditors in full.
  • We advised a technology entrepreneur who had loaned $2 million to a "FinTech" start up, supported by a Personal Guarantee. Following the Company's Administration, a Statutory Demand was served on the founder. An application to set that Demand aside was found to be 'totally without merit'. Permission to appeal has been granted.
  • We advised an individual against a Statutory Demand arising from a personal guarantee in relation to a debt allegedly assigned by an Irish bank to Promontoria. We successfully argued that the lack of documents put the assignment in question, giving rise to substantial grounds to dispute the debt. Also successfully argued that our client could rely on all of the defences available to the company as principal obligor where his obligation is secondary, including limitation.